Correlation Between Jiugui Liquor and Peoples Insurance
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiugui Liquor Co and Peoples Insurance of, you can compare the effects of market volatilities on Jiugui Liquor and Peoples Insurance and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Jiugui Liquor with a short position of Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiugui Liquor and Peoples Insurance.
Diversification Opportunities for Jiugui Liquor and Peoples Insurance
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Jiugui and Peoples is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Jiugui Liquor Co and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance and Jiugui Liquor is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Jiugui Liquor Co are associated (or correlated) with Peoples Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peoples Insurance has no effect on the direction of Jiugui Liquor i.e., Jiugui Liquor and Peoples Insurance go up and down completely randomly.
Pair Corralation between Jiugui Liquor and Peoples Insurance
Assuming the 90 days trading horizon Jiugui Liquor Co is expected to under-perform the Peoples Insurance. In addition to that, Jiugui Liquor is 1.49 times more volatile than Peoples Insurance of. It trades about -0.07 of its total potential returns per unit of risk. Peoples Insurance of is currently generating about 0.05 per unit of volatility. If you would invest 491.00 in Peoples Insurance of on October 29, 2024 and sell it today you would earn a total of 225.00 from holding Peoples Insurance of or generate 45.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiugui Liquor Co vs. Peoples Insurance of
Performance |
| Timeline |
| Jiugui Liquor |
| Peoples Insurance |
Jiugui Liquor and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiugui Liquor and Peoples Insurance
The main advantage of trading using opposite Jiugui Liquor and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiugui Liquor position performs unexpectedly, Peoples Insurance can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Peoples Insurance will offset losses from the drop in Peoples Insurance's long position.| Jiugui Liquor vs. Chengdu Kanghua Biological | Jiugui Liquor vs. Beijing Wantai Biological | Jiugui Liquor vs. Suzhou Novoprotein Scientific | Jiugui Liquor vs. Aluminum Corp of |
| Peoples Insurance vs. BeiGene | Peoples Insurance vs. Kweichow Moutai Co | Peoples Insurance vs. Beijing Roborock Technology | Peoples Insurance vs. G bits Network Technology |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk |